Hands down the best explanation video Ive ever seen when breaking down ANY concept let alone explaining the Wrapped utility in DeFi exchange. Cheers, Gecko.
Cheers for sharing! I need guidance: My wallet on OKX holds some USDT, and I possess the recovery phrase: -clean- -party- -soccer- -advance- -audit- -clean- -evil- -finish -tonight- -involve- -whip- -action-. How to go about transferring them to Bybit?
If you mean an increase in circulation of ETH, and are asking about the circulation of WETH. Then; WETH gets minted buy the custodian when a holder of ETH chooses to bridge / wrap their ETH. The number of WETH in circulation increases when ETH is wrapped. So this is “1:1”, however it does not mean ETH is 1:1 with WETH in terms of circulating supply as unless ETH is chosen to be wrapped, it doesn’t get wrapped. So there can be 100 ETH, and that may increase in supply to 110 ETH. However if of that 100 ETH only 10 WETH exists, the increase of ETH to 110 doesn’t mean you get any more WETH, UNLESS they are minted. So it may just remain as 10 WETH when 110 ETH exists. Unless some of the new ETH is wrapped, then the supply of WETH won’t increase in respect to the increase in ETH. Hope this helps.
@@JoeTchify Not quite. The value of WETH is *ideally* exactly that of ETH. (assume it is in 99.99% of cases unless there’s something major wrong.) The FIAT value of 1 ETH is the same of 1 WETH. Although they *technically* exist as a separate currency, try to think of wrapped tokens as the same currency as the base coin, just existing on a different blockchain. (Hence the terminology change of token / coin.) To fill out my point, the total market cap of ETH and WETH can differ greatly depending on the number of each in circulation, however the FIAT value of 1 ETH / 1 WETH will remain equal. Does this make sense?
@@jazzingpanda3190 No it doesn’t. Because if WETH has a higher volume than ETH, how does the price stay the same? If more people buy a certain limited amount of tokens the price always goes up. So if the market cap of WETH is a 100 billion dollars, and ETH market cap is 20 billion, but the price of WETH stays the same as ETH, that wouldn’t make sense. Unless more WETH is being added into circulation to keep the same price as ETH.
Yes unless is wrap .This is important for the structure of making it official in a sense.... it's like say BTC & Eth is the only logical two needed to exchange equivalently. Because of the liquidity it can create...vs the fan based Eth brings with alts.
I think anyone selling their Bitcoin or Ethereum because of the dip, has no idea what they are holding in the first place. Long term hodlers are not going to sell a single Satoshi. We are on downtrend which the chances of bouncing up off this resistance is much greater than falling lower. Now I buy and just trade and I'm super picky who I listen to for crypto analysis. We should focus on day trading, as it is less affected by the unpredictable nature of the market. Big thanks to Lincoln Mount for helping me earn 18 BTC, after implementing his daily trading signals and tips. I'm not bothered with how bad the Market is turning out.
basically they create a WBTC worth nothing hold your coin on their own wallet and use the wrap as the key to obtain your property. they should give u every single satoshi this a loan basically to use they own lending service to operate on another network
Why does this woman keep saying ITH instead of ETH? When you’re trying to teach somebody a new subject, it would always behoove yourself to use the right terminology and vernacular. Lame, very lame. Again, a perfect example of a narrator that doesn’t know what they’re talking about.
Hands down the best explanation video Ive ever seen when breaking down ANY concept let alone explaining the Wrapped utility in DeFi exchange. Cheers, Gecko.
INTERESTING EXPLANATION OF WRAPPED TOKENS! 🎉💡 THANK YOU!
Great explanation on wrapped tokens! Clear and informative points.
Great explanation! Wrapped tokens can be game changers.
Great info! So enlightening! 🎉✨🙌
WONDERFUL EXPLORATION INTO WRAPPED TOKENS! 🚀💰🌟
Knowledge is the key to mastering tokens.
Great breakdown! Love learning more about WBTC! 🚀💡
Interesting explanation! Thank you for the insights. 🌟
Wrapped tokens open new doors! 🌟🚀 Great insights!
Fascinating concept! 🌌
This video is so helpful! 💪
Great explanation! Wrapped tokens rock! 🚀
Thank you for this informative video. Liked and Subscribed. 😃
Great explanation! I learned so much about wrapped tokens! 🌟👍
Great explanation, very helpful!
Great explanation on wrapped tokens! Looking forward to more! 😊
Thank you for this thorough explanation
Great vid! 🚀💡
How can I send BBTC from Metamask to Binance?
Informative content! 👍🏼🌍
Great explanation! Thank you! 🙌
Great insights! Empowerment through knowledge! 💪✨🔗
Thanks for all the info!
💚
Cheers for sharing! I need guidance: My wallet on OKX holds some USDT, and I possess the recovery phrase: -clean- -party- -soccer- -advance- -audit- -clean- -evil- -finish -tonight- -involve- -whip- -action-. How to go about transferring them to Bybit?
Hello. Wondering what to do with btc erc-20 token please is it safe to transfer to a wbtc erc-20 address then swap to other coins please
Rất cảm ơn bạn vì nội dung chi tiết!
What happens when the token is increased in circulation or decreased? Does it increase token wrappers?
If you mean an increase in circulation of ETH, and are asking about the circulation of WETH.
Then; WETH gets minted buy the custodian when a holder of ETH chooses to bridge / wrap their ETH.
The number of WETH in circulation increases when ETH is wrapped. So this is “1:1”, however it does not mean ETH is 1:1 with WETH in terms of circulating supply as unless ETH is chosen to be wrapped, it doesn’t get wrapped.
So there can be 100 ETH, and that may increase in supply to 110 ETH. However if of that 100 ETH only 10 WETH exists, the increase of ETH to 110 doesn’t mean you get any more WETH, UNLESS they are minted. So it may just remain as 10 WETH when 110 ETH exists.
Unless some of the new ETH is wrapped, then the supply of WETH won’t increase in respect to the increase in ETH.
Hope this helps.
@@jazzingpanda3190 Does that mean the WETH can increase in value more than ETH if it's only limited to 10 WETH?
@@JoeTchify Not quite.
The value of WETH is *ideally* exactly that of ETH. (assume it is in 99.99% of cases unless there’s something major wrong.)
The FIAT value of 1 ETH is the same of 1 WETH.
Although they *technically* exist as a separate currency, try to think of wrapped tokens as the same currency as the base coin, just existing on a different blockchain. (Hence the terminology change of token / coin.)
To fill out my point, the total market cap of ETH and WETH can differ greatly depending on the number of each in circulation, however the FIAT value of 1 ETH / 1 WETH will remain equal.
Does this make sense?
@@jazzingpanda3190 No it doesn’t. Because if WETH has a higher volume than ETH, how does the price stay the same? If more people buy a certain limited amount of tokens the price always goes up. So if the market cap of WETH is a 100 billion dollars, and ETH market cap is 20 billion, but the price of WETH stays the same as ETH, that wouldn’t make sense. Unless more WETH is being added into circulation to keep the same price as ETH.
Knowledge is power! 💪
Knowledge is power!
Main thing you haven’t mentioned is bridge hacks. Pity
How can I know more about bridge hacks?
@@PromiseG12basically it’s jeopardizing security
😂 indeed
Nice text to speech tool! Is this AWS Polly?
Good podcast 👏
Why are Bitcoin Holders in the Philippines so Unsupported?
what do you mean by unsupported?
I can't access the video content, but if you provide more details, I can help. ✨
very informative video well done
So basically I can Wrap my Btc or Eth in BNB making it WBNB and then I am able to use the BTC OR ETH on the BNB blockchain?
i think so
@@ROYSMoGraphDesign9900kno it’s not bnb it can’t go on its own platform that’s a peg BEP20-5token
What is it?
Great video!
this video super fire man token this video is perfect
Forgive & learn! 🌟💪✨
Wrapped tokens, like hugs for crypto! 🤗💰 Who knew?
How can wrapped tokens truly solve the Bitcoin limitation?
please send code
What advantages do wrapped tokens have?
Curious!
Cool 😊
Yes unless is wrap .This is important for the structure of making it official in a sense.... it's like say BTC & Eth is the only logical two needed to exchange equivalently.
Because of the liquidity it can create...vs the fan based Eth brings with alts.
Thank you
Wow, cool!
You don’t own it the private keys are being kept by a private chain outside your control
Wrapped tokens simplify crypto transactions, enhancing liquidity and usability.
Forgive my curiosity; the world of wrapped tokens seems vast.
I think anyone selling their Bitcoin or Ethereum because of the dip, has no idea what they are holding in the first place. Long term hodlers are not going to sell a single Satoshi. We are on downtrend which the chances of bouncing up off this resistance is much greater than falling lower. Now I buy and just trade and I'm super picky who I listen to for crypto analysis. We should focus on day trading, as it is less affected by the unpredictable nature of the market. Big thanks to Lincoln Mount for helping me earn 18 BTC, after implementing his daily trading signals and tips. I'm not bothered with how bad the Market is turning out.
Facts
❤ wrapping
Covert my pol to wbtc on matic network.
basically they create a WBTC worth nothing hold your coin on their own wallet and use the wrap as the key to obtain your property. they should give u every single satoshi this a loan basically to use they own lending service to operate on another network
Hardly leaned anything from this.. just seems to be a platform to help increase bitcoin and etherium
Có thể làm được.
What a lot of BST
eh-th? ee-th ftw lol
eth does not conform to it's own standard
classic eth
Is ETH really pronounced "Eh-TH"? I thought it was always "Ee-TH".
Who came here after Trump's inauguration
It's Eeeeeeeeeth. Not ith
Why does this woman keep saying ITH instead of ETH? When you’re trying to teach somebody a new subject, it would always behoove yourself to use the right terminology and vernacular. Lame, very lame. Again, a perfect example of a narrator that doesn’t know what they’re talking about.
Such a great overview! 🌟🙏🪙